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"your business" sunday mornings at 7:30 on msnbc. [ male announcer ] if you're eligible for medicare... now's a good time to think about your options. are you looking for a plan that really meets your needs? and your budget? as you probably know, medicare only covers about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay. and could save you in out-of-pocket medical costs every year. call today to request a free decision guide. with this type of plan, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a specialist. if you're thinking about your options, call today. when you call, request your free decision guide. and find the aarp medicare supplement plan that may be right for you. o0 ci had[ designer ]eeling enough of just covering up my moderate to severe plaque psoriasis. i deci
medicare and medicaid, we're talking about people's lives and health care. this is part of the reason why the president doesn't want social security to be part of it. why folk on the left are still angry that something like medicare or medicaid are sort of used as false equivalencies with tax increases. we have to think about people's real lives and health care really addresses those issues versus wealthy folk paying a little more. >> david, if that's the case, if professor peterson is right, why then did the president when he was in the process of negotiating a grand bargain with speaker boehner, agree to suggest or even imply that, for example, the age of qualification for certain of these entitlements would go up? >> the president has decided that the way to deal with this overall, i'm not saying this is right or wrong, is that we have divided government which means we're going to try to take care of the deficit and the tax cut and also the debt ceiling issue all at once. he tried to do that two summers ago and came close and he felt you had to give up something in terms of -- not soci
for us to talk abo about. we cannot stand by the sidelines in denial untouched, unamended, medicare is going to run out of money in 12 years. that is scary. >> but it's what durbin didn't say that was striking. in his prepared remarks durbin was going to say the following. quote, progressives should be willing to talk about ways to ensure the long-term viability of social security, medicare and medicaid, but those conversations should not be part of a plan to avert the fiscal cliff. durbin never said those remarks. he left that out. he later said he stood by those comments, and he did argue that medicare shouldn't be part of any up front down payment on the debt but part of the next year's long longer term negotiation. now while the short term talk to republicans may be tough, the longer term message to liberals is clear. entitlements in some form or fashion will need to be on the table. that means medicare. and a new "washington post"/abc poll shows just how politically tough making any changes to medicare will be. across party lines respondents said they are opposed to increasing
of the budget which is all of those programs starting with medicare and medicaid. you can't get out of it without dealing with those, a and bowles is absolutely right. gerri: long way to go. thanks for coming on. appreciate your time. >> sure. thank you. gerri: as a reminder, the revenue from the bush tax cuts would generate just $82.4 billion a year, enough to run the government for five days. as president obama pushes for tax hikes on wealthier americans, he might look to britain to see the effect it has. it's not revenues. it's surprisingly less. after the labour party, that is, there, pushed for the top tax rate to 50%, 5-0, the richest left. two-thirds left to avoid paying the new tax. it also stopped people coming to and investing in britain. there's a lesson for you. turns out the proof is in the pudding realizing the errors of the way, the government is cutting the top rate to 45%. more to come like should washington sub di size wind energy? more on the fiscal cliff as americans on all levels have to prepare to take the tax hit. i hope it doesn't, but i'm going to break it d
taxes. is it equally difficult to get democrats to agree to touch medicare? >> not when you have the president say he's going to do it. he said it during the grand bargain that didn't become too grand or a bargain, but he talked about entitlement reform and he's still talking about entitlement reform. he will do something in that area, as long as he can hammer those guys over $250,000. and make them pay more taxes. how $250,000 got to the point where that's the, quote, middle class is beyond my comprehens n comprehension. 100 would have been more appropriate for more real live people. he's going to get that. hopefully he can do it without doing rate increases, which are going to cost. anybody who is, quote, rich shouldn't mind paying more taxes. i don't understand that at all. and i don't understand that somebody, if you let them earn more money is going to use it to hire people. they may likely buy another kind of rig or a toy or something like that. i don't know. but all i know is one thing, you can't cut -- you can't cut spending away out of this hole, you can't tax your way
. and two entitlement reform that means getting rid of social security and medicare and making at it voucher program, which mitt romney and paul ryan supported and the american people rejected. so don't fall for this republican line of baloney that they have suddenly seen -- gotten religion when it comes to new revenue. the only solution is an balanced report which includes spending cuts and new revenue and not just closing loopholes. it's not just closing loopholes. it has got to include raising taxes on the wealthiest 1%. let's talk about it 866-55-press. 866-557-7377. i hope i'm not alone among the media who will say these republicans are just trying to con the americans one more time and stick to the old mitt romney plan which the american people rejected on november 6th. don't fall for it. 866-55-press. let's talk about it. >> announcer: this is the "bill press show." ♪ [ male announcer ] it's that time of year again. time for citi price rewind. because your daughter really wants that pink castle thing. and you really don't want to pay
on the table we are not very serious. we know that medicare and social security are going to grow. >>neil: thank yous senator. normally, you know with every prominent guest i write them a thank you note and you just let me know, you don't like it, you don't --. >>guest: no, it is not that. i don't want you to take your time that you have to devote to and talking to grover norquist and all the other things. that is all. i do appreciate the opportunity of being on your show and i think you do a great job and you are a fund guy. >>neil: it is fun to cut out magazine letters circumstances. john mccain, senator, and former presidential candidate. thank you. go for the hikes, just keep your hands off entitlements, unions are sending that message to congress. is congress listening? republican senator rand paul says they better not listen to that. ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground s
, let's be honest. they mean getting rid of medicare, getting rid of medicaid. >> structural reforms. >> bill: and privatizing social security. >> it was good to hear yesterday jay carney the white house press secretary, i don't know if you were there. taking social security off the table. it's not a problem. it hasn't contributed to the deficit. that's off the table. they're open to medicare. they've been open to changing provider payments which there is a lot of waste there. encouraging pharmacy companies to give medicare and medicaid better rates. those are all positive reforms. those are big savings. so we can take and find savings from the provider side. it is when you go after the beneficiaries that you run into problems but look, you know, romney ran an entire campaign hitting democrats for cutting $716 billion out of medicare. now they turn -- republicans backed that view we shouldn't touch medicare at all. now they turn around and say you have to cut medicare. it is as if the 716 debate we had for mo
average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality time to share with the ones who matter most. i love you, grandma! [ male announcer ] humana. ♪ >>> conservatives definitely got one thing right about the 9/11 benghazi attacks. the lies and half truths that some politicians and pundits were peddling about what really happened would eventually blow up in their faces. the one thing they got wrong, it would be on their faces and on their network and via a pulitzer prize winning journalist who knows a thing or two about the middle east. >> emphasis on benghazi has been extremely political probably because fox was operating as a wing of the republican party. >> tom ricks, thanks very much for joining us today. >> you're welcome. >> joining us now is lynn sweet, d.c. bureau chief for "the chicago sun-times" and john than capehart, an msnbc
republicans seem to really want is what they would call reform or spending cuts on the medicare side. you guys, your think tank released a report on how to do that while protecting seniors. if the center for american progress is saying you can cut medicare, is there common ground that can be reached here? >> i hope so. in the distant past, it was republicaned talking about ways to strengthen medicare by ensuring we are lowering health care costs. $385 billion in additional savings in medicare, but importantly, our proposals protect middle income beneficiaries. the pledge has required that republicans really go after beneficiaries. both for medicare and social security. so we're saying you can have a good deficit reduction plan that has savings in medicare, but it's important that we protect those who are vulnerable in the middle class, seniors, those on medicaid and we can do that. and one thing i would say about the pledge, there's a lot of talk about the politics and republicans moving, et cetera. the issue here is not politics when we're together. americans support this idea of basic fairne
of year again. medicare open enrollment. time to compare plans and costs. you don't have to make changes. but it never hurts to see if you can find better coverage, save money, or both. and check out the preventive benefits you get after the health care law. ♪ open enrollment ends dember 7th. so now's the time. visit care.gov or call 1-800-medicare. >>neil: and guess what is topic one at the u.n. climate control? hurricane sandy, a storm they are still cleaning up and environmentalists hope they will be clean will up there, where some countries using the storm that dislocated thousands to now redistribute wealth to the tune of billions. all in the name of climate change. our reporter says that will cost a lot more that chump change. what is going on here? >>guest: well, this is like pavlov dogs, the activists think we need more taxes and regulations to stop bad weather. this is a primitive form of science. to use hurricane sandy as a poster child for global warming as the united nations and al gore is now doing, that makes as little sense as you can possibly imagine. we are at 30 or 40
, including a cap on itemized deductions coupled with curbs on social security and medicare benefits. corker joined several republican senators and house members who have suggested they might abandon a longstanding pledge not to raise taxes. but the author of that pledge, conservative lobbyist grover nor quist, played down any hint he's losing influence. he called it, quote, a complete media-created frenzy. on the left, democratic senator dick durbin of illinois urged liberal groups to give way on their opposition to changes in medicare and medicaid. >> we cannot standby on the side lines in denial that this is ever going to engage us in the things that we value. we can't be so naive to believe that just taxing the rich is going to solve our problems. wlook to reform and change that is significant, that preserves many of the values and programs that brought us to political life. >> brown: for his part senate page ontario leader harry reid declared himself extremely hopeful even as the end of the year and the end of the current congress rapidly approach. as this debate has unfolded we've been
they shouldn't do the happy dance just yet. republicans will want payback, as in medicare, medicaid and social security. so for all of you who want tax hikes for the wealthy, what are you willing to give up in return? on social security? raising the retirement age to 70? on medicare, a total revamp is in instead of the government paying your medicare bills, you pay them with help from the government? you tell me. talk back question this morning, what should republicans expect in return for new taxes? facebook.com/carolcnn. facebook.com/carolcnn. your comments later this hour. >>> more republican lawmakers -- well, as i just said, they're willing to break that no new tax pledge. we'll talk about that with our political panel, next. we use this board to compare car insurance rates side by side so you get the same coverage, often for less. that's one smart board. what else does it do, reverse gravity? [ laughs ] [ laughs ] [ whooshing ] tell me about it. why am i not going anywhere? you don't believe hard enough. a smarter way to shop around. now that's progressive. call or click today. [ gruntin
of entitlement reforms in medicare and social security that senator graham is saying are prerequisite to a deal. >> let me tell you, first, george, and you know this, social security does not add one penny to our debt. not a penny. it's a separate funded operation. and we can do things and i believe we should now, smaller things, played out over the long term that gives its solvency. medicare is another story. only 12 years of solvency lie ahead if we do nothing. those who say don't touch it, don't change it are ignoring the obvious. we want medicare to be there for today's seniors and tomorrow, as well. we don't want to go to the poll and voucherizing it and we can make meaningful reforms without compromising the integrity of the program, making sure that the beneficiaries are not paying the piece for it except perhaps the high income beneficiaries. that to me is a reasonable approach. let me salute lindsey graham. what he said about revenue in needs to be said on his side of the aisle. we put everything on the table. >> does that include raising the age for medicare eligibility? >> here's my
achievements of the past century, social security and medicare, on the chopping block in exchange for that. that shouldn't be in exchange for that, because if we simply do nothing, the republicans lose everything they want. >> such a great point. dan, speaking of republicans not recognizing the new reality, grover norquist has been furiously trying to spin the fact that there are several senators and members of congress who are moving away from his sacred pledge. let's take a listen to a little bit of grover. >> the pledge is not for life, but everybody who signed the pledge, including peter king who tried to weasel out of it, shame on him as the new york sun said today, i hope his wife understands that commitments last a little longer than two years or something. no pledge taker has voted for a tax increase. they've had some people discussing impure thoughts on national television. the same thing with other people who are elected because they made that written commitment to the people of their state. >> that sounds like a threat. >> why does he keep making this romantic sexual thing? >> d
, republicans want changes to medicare and medicaid, cuts they say will keep both of them solvent for future generations. in exchange, one possible deal would eliminate deductions for the wealthy, maybe even the very popular mortgage deduction. and while republicans have been more open to revenue, that does not mean tax rate increases. many democrats insist that tax rates for the wealthiest americans absolutely have to go up. but they don't necessarily agree on how much they should rise. let me bring in usa today's washington bureau chief, susan page, and ryan grim. good morning to both of you. >> hey, good morning. >> good morning. >> we've laid out some of the basics there and warren buffett was out this morning talking about taxing the wealthy. he says there should be a minimum tax on millionaires. take a listen. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes, and then they've watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> you kno
to raise the retirement age of medicare, might fold parts of medicare into one, so you can get efficiencies. that will be on the table. there's going to be cuts. and i don't think it's a mystery about how big the tax increase is going to be. john boehner says 800 billion, the president puts down a $1.6 trillion marker. doesn't take einstein to figure out you get $1.2 trillion. to me, that's going to be the size of the tax increase. you have warren buffett on later today. i think his op-ed in the "new york times" is one of three live options for how you get there. a flat minimum tax for rich people or some cap on deductions, which i think is going to becoming increasingly appealing to lawmakers as they try to solve this or flat out increasing the rates, which is a non-starter for a lot of republicans. i think you're going to see a slightly higher rate with some kind of cap on deductions or alternative minimum tax for rich people. >> a combination of those two. we've got a lot more to talk about with you. monday night football highlights the eagles showing they don't need michael vick to lose
the president said in 2010. >> the major driver of the long-term liabilities is medicare, medicaid and healthcare spending. nothing comes close. social security we could probably fix the same way tip o'neil and ronald reagan sat down together and we could figure something out. that is manageable. medicare and medicaid, massive problems down the road. that's where, that is what our children have to worry about. >> dana: here we are, two years later and still no plan. on the left in congress refusing to deal with that simple reality. vermont senator bernie sanders caucuses with the democrats. take a listen. >> i get nervous when i hear the president and others continue to talk about quote/unquote, entitlement reform. which is just another cut for medicaid and medicare and social security. >> eric: brian, start with you, today. >> dana: you look surprised. >> brian: i am. yet honored. >> dana: do you think they are closer to a deal? after thanksgiving people get back to work. >> brian: i was encouraged when i pick up the papered president is working with people. but then i pick up the
found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it could save you thousands in out-of-pocket costs. call now to request your free decision guide. i've been with my doctor for 12 years. now i know i'll be able to stick with him. you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and you never need a referral. see why millions of people have already enrolled in the only medicare supplement insurance plans endorsed by aarp. don't wait. call now. ♪ ♪ every time he drinks he thinks of her ♪ ♪ but every morning her memory fades away ♪ >> every time he drinks he thinks of her. >> willie's son lucas nelson wrote it. with me now, talented guys your sons? >> yes. >> one
entitlement reform for one simple reason. medicare untouched, unchanged, runs out of money in 12 years. we need to take a hard look at it to find ways to preserve this important program, have savings that don't hurt the beneficiaries, and actually do reduce the deficit in the process. >> what about those republican critics, senator, who say it's not possible to make any real progress without -- on spending, shall we say, without seriously addressing the medicare, the medicaid, maybe even the social security entitlement program and to do it now? >> social security doesn't add one penny to the deficit. it's a separate trust fund. i believe it needs reform over a long period, but it should be done separately from this showdown over the fiscal cliff. medicare as i mentioned will run out of money if we don't do something. it runs out in 12 years. medicaid, the health insurance program for the poor across america, is critically important. one out of three people in this country are going to rely on medicare and medicaid for their health insurance. so we need to find ways to preserve these progra
dick durbin says medicare and medicaid are fair game in deficit negotiations, but insist social security should be left alone. >> social security does not add one penny to our debt, not a penny. it's a separate funded operation, and we can do things, and i believe we should now, smaller things, played out over the long term that gives it solvency. medicare is another story. only 12 years of solvency lie ahead if we do nothing. so those who say don't touch it, don't change it are ignoring the obvious. >> despite showing willingness for reform -- >> can we talk about that for a second? >> i don't want to repeat what you said. >> it's bull hockey. >> that's not what you said. >> this whole thing has been a complete farce for years. there's no trust fund. they raided that a long time ago. but the bigger point, i will because you know what? my heart has grown like the grinch's since thanksgiving. i have so much to be thankful for. >> it's been growing ever since election day, basically. >> so i'm going to be kind. first of all, senator durbin deserves respect on this front because he
. it takes passion. and it's not letting up anytime soon. if you're eligible for medicare, you might know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they help pay some of the difference. and could save you in out-of-pocket medical costs. you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and you never need a referral to see a specialist. so don't wait. call now to request a free decision guide to help you understand medicare. and which aarp medicare supplement plan might work best for you. there's a range to choose from, depending on your needs and your budget. and they all travel with you -- anywhere in the country. best of all, you'll be joining the millions who have already enrolled in the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations. ♪ reme
identity. of washington about the future of medicare and social security. anncr: but you deserve straight talk about the options on the... table and what they mean for you and your family. ancr: aarp is cutting through all the political spin. because for our 37 million members, only one word counts. get the facts at earnedasay.org. let's keep medicare... and social security strong for generations to come. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. you know, one job or the other. the moment i could access the retirement plan, i just became firm about it -- you know, it's like it just hits you fast. you know, you start thinking about what's really important here. ♪ >>> breaking news tonight on the li
absorption in one daily dose. of washington about the future of medicare and social security. anncr: but you deserve straight talk about the options on the... table and what they mean for you and your family. ancr: aarp is cutting through all the political spin. because for our 37 million members, only one word counts. get the facts at earnedasay.org. let's keep medicare... and social security strong for generations to come. and social security strong for generations to come. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. >>> breaking news tonight on the libya mess. a new allegation that the obama administration still cannot get its story straight after so much time, even as recently as this morning. ironically, this latest charge flows directly out of an attempt at damage control. u.n. ambassador susan rice's tri
and not touch medicare or medicaid? it is all part of the deal. >> gretchen: once you get people back to the table. it is it like a marriage, marriages don't work when one party said i will not budge on anything. >> brian: i hope my wife is listening. >> steve: we are in the let's make a deal stage. both sides want to appear flexibility when it comes to doing something. we aapparently the president of the united states. the week after thanksgiving nothing is scheduled. but we understand that the top aides are working together to do something. who is leading the charge for the white house? tim geithner. it is interesting, in the beginning, during the confirmation it was revealed he did not file taxes properly and people say is he qualified to be the treasury of the secretary. according to the wall street journal. they work with him and like him. and jack lu who did it last time blew it. >> gretchen: why not have bowles-simpson come back. why do we spend more time. rephrase that. why are we wasting more time trying to come together on a deal when the bowles-simpson. >> brian: they didn'
and over for generations. so it's no surprise millions have chosen an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they help cover some of the expenses medicare doesn't pay. and save you up to thousands in out-of-pocket costs. to find out more, request your free decision guide. call or go online today. after all, when you're going the distance, it's nice to have the experience and commitment to go along with you. keep dreaming. keep doing. go long. gregg: ambassador susan rice now breaking her silence and defending her controversial comments on the benghazi terror attacks. republicans claim susan rice either wittingly or unwittingly misled americans days after the raid when she claimed the assault grew out of a spontaneous protest related to a youtube video. well, stephen hayes joins us now to talk about it, senior writer at the weekly standard and a fox news contributor. steve, happy black friday to you. [laughter] >> morning, gregg. gregg: hey, listen, rice claims she relayed solely and squarely
not even got into investor related taxes that goes up, medicare surcharge for well to do, i can go on and on with what states are doing with millon air taxes and the like that go -- are republicans missing this? >> you know, when you come int this argument, republicans are sort of going into this branding it as a revenue increase, they refuse to say tax increase, part of this, they say, you create a more efficient system in maybe you could lower rates maybe you get rid of some deductions, but that generates more economic activity, that is re money to be taxed. but, don't be mistaken, you are taking more money from the american population than you would be witho factoring in economic growth. talk about that cap, tax policy center says a 50,000 collar cap on -- 50,000 dollar cap on deduct, 750 bill i don't know over 10 years, that is real from come. neil: do you think that is what democrats are hinting at, when they say, it does not have to be a rate hike or bust? that they are quietly thinking, you know with this alternative, we could actually get more tax revenues. >> i think it wi
in the making. and there are many years ahead. join the millions of members who've chosen an aarp medicare supplement insurance plan insured by unitedhealthcare insurance company. go long. [ gordon ] for some this line is a convenience. how you doing today? i'm good thanks. how are you? i'm good. [ gordon ] but for others, it's all they can afford. every day nearly nine million older americans don't have enough to eat. anything else? no, not today. join me, aarp, and aarp foundation in the drive to end hunger by visiting drivetoendhunger.org. with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. it's cramping. go ice that thing. sorry. hand cramp. ahh. [ male announcer ] cyber monday is back. shop now for great savin
're not going to touchdown social security, maybe medicare, medicaid, but not social security and republicans will say, wait a minute, you're not serious. we're giving ground on revenue, you got to give ground on spending. and, brooke, i think the biggest thing here is that this bill, if they get a bill, is going to be so unpopular because it is going to raise taxes and it is going to cut benefits and getting the votes to pass this is going to be enormously difficult. >> you bring up the benefits issue. let me run through this, because it brings us back to the possibility of no deal whatsoever. again, on the automatic tax increases come january 1. we're talking about a lot of stuff here. the bush era tax cuts expire. as does the president's so-called payroll tax holiday on social security deductions, follow along with me, the so-called marriage penalty returns full force, you also have extended unemployment set to expire here. and the child tax credit drops by half. capital gains go up. bob, today, you know, the white house is warning that this could have a crushing impact on the u.s. economy
star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality time to share with the ones who matter most. i love you, grandma! [ male announcer ] humana. ♪ >>> in on op-ed today, warren buffett insisted that slightly higher tax rates will in fact not deter the rich from becoming much richer. forget about the rich and ultra rich going on strike and stuffing their ample funds under their mattresses, if gas cap pal gains rates and ordinary income rates are increased, the ultra rich including me will forever pursue investment opportunities. none will say well, it all depends on what my tax rate will be. only in grover norquist's imagination does such a response exist. it's true. for ultra rich warren buffett and as pointed out previously, it is true for bill o'reilly and rush limbaugh. buffett supports a minimum 30% federal tax on incomes over 1 m
of revenue. for example, one of these ideas is raising the medicare eligibility age to 67 from 55. would sething like that work for you? would you be willing to sign onto an idea like that? >> i am interested in the entitlement rform. in order to make these programs available for those who have come to rely on them, for those who have come to expect that they will be there for them. in order to make sure it can survive we have to make adjustments like that. i have already introduced and co-sponsor of legislation that would do some of those things. absolutely i would be interested in discussions along those lines gerri: thank you for coming on. great to see you, and we hope to see you again oon. >> thank you, gerry. gerri: a lot more to ome, including with a potential tax increase living for capital gains. compies trying to get a jump on the fiscal cliff. details and the oracle of all my speaking out on tax policy. next, i'll break down why warren buffett is just plain wrong. ♪ gerri: warren buffett is getting a lot of attention this week for his comments on the fiscal cliff . basically
on the left on social security or medicare, then you get people getting nervous. the markets get service, the markets sell off, we have a problem. if we go into january and there's the basic broad outlines of a deal that we can retroactively fix some of these tax rates, extend unemployment benefits, if that is the general tenor of things going into december we'll be fine and we'll get a deal in january and go ahead. but if it's more of the same politics as usual, you're going to see spending get cut down. people are going to get nervous and businesses are concerned about the long-term outlook. >> let me bring back eamon on that point. do the markets care when you see the ceos and some of the wealthier people, including warren buffett today in the "times" saying, look, we have got to raise revenues by raising some taxes on wealthy individuals. we saw that from both buffet and radner, very prom negligent well-known financiers but ultimately endorsing what sounds like the obama position. do the markets look to those steps the way we do in politics and say this is more likely to get done or
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's that time of year again. medicare open enrollment. time to compare plans and costs. you don't have to make changes. but it never hurts to see if you can find better coverage, save money, or both. and check out the preventive benefits you get after the health care law. ♪ open enrollment ends december 7th. so now's the time. visit medicare.gov or call 1-800-medicare. >>> now, she might be the president's choice to succeed hillary clinton. would you support her? >> i would be very hard pressed. >> if it were john kerry? >> he became within a whisper of being president of the united states. i think that works in his favor but, i would love to hear him make his case. but i don't have anything in his background like this tragedy in benghazi, that would make me really want to make me carefully examine the situation. >> if president obama nominating john kerry in stead of susan rice, massachusetts would hold a special election to fill kerry's seat, which provokes this question. >> would you be running again in the special election? >> there's no vacancy that i'm aware of and we'll see what happe
to entitlements, medicare and social security. they are also going to address spending in ways that democrats are not going to be happy about. so everybody is going to have to sort of cave here, it would seem. stuart: there has to be compromise on the other side as well as republicans on tax. maybe the democrats have to compromise on entitlement reform at some point. they haven't yet. sandra: grover norquist has already come out and said nobody is caving here, if they do, it is just a trap the republicans are falling into. and this is going to be horrible for republicans, especially in the next election. liz: he also pointed out that george h.w. bush won gulf war one and then really lost reelection. the berlin wall fell under george hw and then lost reelection because he broke read my lips. norquist says in the republican brand you don't raise taxes. as for entitlement reform, democrats, many says we don't need entitlement reform, we want entitlements to be solvent, that's the issue there. stuart: the president will be on the road this week. i don't doubt for one moment he will keep pushing h
ass for us. we'll cut the living hell out of what we call entitlements, social security and medicare and medicaid. lloyd blankfein listen to what he said about so-called indictmentment. >> you'll have to lower people's expectations, the entitlements and what people think they're going to get because it's not going--they're not going to get it. >> cenk: you're not going to get it. i'm going to get it. that's lloyd blankfein. this is the guy whose company took $10 billion in federal bailout and an extra $14 billion through back door bailouts of aig. in the last quarter--that's just a quarter of the year they made $8.4 billion. how much of that did the u.s. taxpayer get for bailing their ass out? none of it. we got the initial $10 billion mac. we did not get the back door bailout back. we did not get a piece of that company. finally look at his salary were last year. it will probably be higher than this year, $16.4 million. so he gets the bailouts from the government i am entitled. i have an expectation to exceed $1 million that i got through your bailout through hard taxpayer earned mo
is basically the entitlement programs, medicare, medicaid, social security, defense spending as well as interest payments. and discretionary part of our budget, which is everything else, cops, justice department, nuclear facilities, education, etc., is a small part of the budget. now, the question is not so much about now, but in the future and the future, medicare spending and medicaid spending in particular and to a degree social security, but much less, will come to consume almost the entire budget. because of the baby boomer retirement wave as well as because of increasing health care costs. and that's why lawmakers and policymakers are working so hard to try to get the fiscal house in order. host: we're talking about the so-called fiscal cliff talks that are happening here in washington. if you want to follow along we're starting a new web page at c-span.org/fiscalcliff. we will have all the related events that we are covering here at c-span as well as a resource page and a twitter feed that follows those reporters who are following the talks and we're learning today and this we
. not just medicare. but you know, why don't we negotiate prices for prescription drugs? that would save us $160 billion over ten years. the fee for service volume-driven system that's making it unaffordable, these are things that ought to be put into the discussion and not have it just be what's the ratio because bottom line, we have to come up with something that's more efficient, more effective more sustainable. >> eliot: you make a hugely important point. no question when it comes to healthcare, we have to change, bend to the curve to use the language of washington, d.c. or else we will have a crisis. on the other hand, there are other areas of government spending where we must invest and as you point out in 19th century infrastructure does not make us competitive and what's been lost in some of the conversation here is the necessity of making those investments. are you going to try to lead the charge to bring us back to a more sensible middle ground on this? >> i am. i think some republicans might agree on that
people like to run aaround with that but it doesn't make sense. >> what me worry scenario. medicare no problem. medicaid no problem. i don't know, one trillion deficit no problem. >> markets are falli ining dean. take a look. i don't understand this. attitude. i'm not hearing it from the president. no, first of all, interest rates are low because we have had a weak economy. as far as the debt goes, listen to dean, i'm sure that he believes that the only real problem phafacing the country a the capitol gains. i think we do have a debt problem i think we have a big debt problem. the numbers in the 20s, 30s, look horrifying and we have a huge job and growth problem. i don't understand how taking dividends from 15-43 creates jobs that closes that. >> i don't see spending cuts. it won't matter. the economy collapsed and the housing bubble collapsed. make them pay zero taxes. the search goes inside out. none of it finds that it will create any of those jobs. the government has no choice. >> that is quite an experiment. that you are willing to run with 1 or 2%. from 15 to 25. we are going
a lot. >> everything from medicare to the voting rights act. last word, ron. >> i think it's going to be a very interesting four years, and i think that we're all going to learn about the architecture of in the man. let me just offer one little philosophical note. aristotle defines justice as the word we use for integrity. in the complex life, a person would learn to integrate the competing parts of the human personality, and only then, he says, will you have the capacity to act justly. and the question for obama is how he will express that or if he will in this new term. >> it's not the integrated life that we do it here, but there's a second term in which we do it here, so thank you all very much. [applause] great, wonderful. good. thank you. thank you. thank you. >> thank you. now i know more about what obama is really like, i think -- >> former counterterrorism coordinator henry crumpton also spoke at the washington ideas forum last week. he focused his remarks on the military's emphasis toward drone warfare as well as concerns over cybersecurity and the afghanistan war. this i
? some down payment. the second act is some clear indication of what to do with medicare and defense stocks. they have to give a clear indication otherwise there's going to be some kind of credit downgrades in the months going into 2013. how about the greek deal? i fell out of my chair. this is a default in all but name. look at this. an extension of the loans for 15 years. 15 years. $245 billion of loans. deferral of interest payments for ten years. deferred for ten years. and a reduction in interest rates. imagine this. you have a 30-year mortgage at 3%. now instead of a 30-year mortgage you have a 45-year mortgage. instead of 3% you're paying 2%. how about no interest payments for the next ten years on your 30-year mortgage? that's the deal the greeks just signed. it's staggering because what's happening here is don't call it a default. it's not a default. it's a restructuring. the fact is this is the first step on forgiveness of the debt. they're not officially forgiving any debt. don't say that. they'll freak out on you. the fact is that the next step from here is going out into
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